MERI deploys all $1.7M of IPO proceeds to expand learning centres
What's the deal? PT Merry Riana Edukasi TbkDealroom has a profile for this one. Try Dealroom → (MERI), an Indonesian character-education and personal-development company, has spent 100% of its IPO proceeds — US$1.79M — to expand the Merry Riana Learning Centre network. The money went to two subsidiaries, according to a fund-use report filed with the Financial Services Authority (OJK) and the Indonesia Stock Exchange (BEI).
Where did it go? MERI allocated US$1.16M to PT Merry Riana Edukasi Delapan and US$625.3K to PT Merry Riana Akademi Tujuh, with full realisation recorded as of June 30, 2026.
Why now? The spending comes roughly a year after MERI listed on the BEI on July 10, 2025. The company has now closed the loop on how it used the capital raised from going public.
The numbers: In its IPO, MERI sold 235.13 million shares, or 22.72% of its enlarged capital, at US$0.01 each. That raised US$1.96M in gross proceeds; net proceeds came to US$1.79M after US$172.6K in offering costs.
Who owns it? PT Merry Riana Indonesia holds 57.96%, PT Tancorp Investama holds 19.32%, and the public owns 22.72%.
The signal: MERI's full deployment into physical learning centres shows a small Indonesian education issuer betting its public-market capital on expanding reach — a straightforward growth play tied directly to the brand behind its name.
Read more: idxchannel.com
Image credit: Generated with Gemini
